Miller Howard Investments Inc. NY Has $21.11 Million Stock Position in TC Energy Co. (NYSE:TRP)

Miller Howard Investments Inc. NY lifted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 525,203 shares of the pipeline company’s stock after purchasing an additional 1,769 shares during the period. Miller Howard Investments Inc. NY owned 0.05% of TC Energy worth $21,113,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TRP. Capital Research Global Investors increased its stake in shares of TC Energy by 23.7% in the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after acquiring an additional 10,654,993 shares in the last quarter. Norges Bank bought a new position in shares of TC Energy during the 4th quarter worth approximately $341,262,000. Mufg Securities Canada LTD. bought a new position in shares of TC Energy in the fourth quarter valued at approximately $235,580,000. Capital International Investors increased its position in shares of TC Energy by 11.8% during the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after purchasing an additional 5,822,056 shares during the last quarter. Finally, FIL Ltd boosted its holdings in shares of TC Energy by 37.2% in the 4th quarter. FIL Ltd now owns 16,706,812 shares of the pipeline company’s stock worth $652,613,000 after buying an additional 4,528,555 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Jefferies Financial Group initiated coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy has an average rating of “Hold” and an average target price of $48.83.

TC Energy Price Performance

TC Energy stock traded up $0.62 during mid-day trading on Monday, hitting $39.11. 5,830,752 shares of the company traded hands, compared to its average volume of 2,992,068. The stock has a fifty day moving average price of $37.84 and a 200-day moving average price of $38.76. The stock has a market cap of $39.11 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 3.18 and a beta of 0.79. TC Energy Co. has a one year low of $32.51 and a one year high of $41.03. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. On average, equities analysts predict that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a yield of 7.26%. TC Energy’s payout ratio is 145.88%.

TC Energy Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.